Note Payable and Revolving Line of Credit (Tables)

12 Months Ended

Dec. 31, 2019

Notes Payable [Abstract]

Carrying Value of Note Payable

As of December 31, 2019 and 2018 the carrying value of the Company’s note payable is summarized as follows:

Note Payable	December 31, 2019			December 31, 2018
Principal balance outstanding	$	19,338,556		$	19,809,511
Less: Loan procurement costs, net		(498,769	)		(540,261	)
Total note payable, net	$	18,839,787		$	19,269,250

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of December 31, 2019:

2020	$	492,797
2021		513,857
2022		535,816
2023		558,714
2024		582,591
2025 and thereafter		16,654,781
Total principal payments	$	19,338,556